Allahabad Lucknow Court June 2014 Judgments

Santosh Kumar Shukla Vs. Syndicate Bank Through Its G.M. and Others

Court: Allahabad Lucknow

Heard Sri Mahendra Pratap Singh, learned counsel for the petitioner as well as Sri N.K. Seth, Senior Advocate assisted by Sri Gopal Kumar Srivastava appearing for the respondent-bank. The facts briefly is, that, the petitioner was appointed, Class-IV attender with the respondent-bank in 1981, thereafter, in 1982 he was confirmed. The petitioner was advanced housing loan of Rs. 75,000/- in 1988 and as per the housing scheme, applicable to the employees, the petitioner was required to repay the loan in 24 years, monthly installment being of Rs. 357.15 paisa, to be deducted from his salary. The petitioner purchased the plot/house on 26.4.1988 at Aliganj Housing Scheme, and executed an agreement with the bank undertaking to create equitable mortgage and not to sell, mortgage, alienate or create any charge, without the written permission from the bank. On 24.8.1990 the property purchased, under the housing loan scheme, was sold by the petitioner to one Smt. Shireen Rahman for Rs. 1,25,000/-...